US China Trade war is new weapon to put China in fix.
International Monetary Fund(IMF) chief Christine Lagarde has said that fresh trade tensions between the US and China are the main threat to the world economy.
Speaking at a conference in Paris, Lagarde said, recent rumours and tweets make it clear that an agreement between the two countries is less likely. US President Donald Trump jolted global markets yesterday by threatening on Twitter that tariffs already imposed on 200 billion dollar in Chinese exports to US would more than double to 25 per cent on Friday from the current level of 10 per cent.
French Economy Minister Bruno Le Maire warned in his speech at the Paris Forum event, about the impact of a trade war between the world’s two biggest economies.
He said increasing tariffs is always a dead-end and a negative decision for the whole world, he said. Meanwhile, China today said its top trade negotiator will visit the US for talks with his American counterparts this week.